First Trust Indxx Aerospace & Defense ETF

The First Trust Indxx Aerospace & Defense ETF (MISL) is a passively managed exchange-traded fund launched on October 25, 2022, and listed on NYSE Arca, sponsored by First Trust Advisors L.P. The Fund seeks investment results that correspond generally to the price and yield, before fees and expenses, of the Indxx US Aerospace & Defense Index, which consists of up to 50 U.S. companies engaged in business activities associated with advanced aerospace and defense sub-themes — including hypersonic, directed energy, space technologies, unmanned aerial vehicles, cybersecurity, and C5ISR systems — as well as traditional aerospace and defense manufacturing. Under normal market conditions, the Fund invests at least 80% of its net assets in the common stocks comprising the Index, employing a full physical replication strategy with quarterly rebalancing and semi-annual reconstitution. With total assets under management of approximately $822 million, a net expense ratio of 0.60%, and top holdings including companies such as Lockheed Martin, RTX Corporation, GE Aerospace, and The Boeing Company, MISL offers concentrated exposure to the industrials aerospace and defense segment of the U.S. equity market.